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SEC Filings

10-Q
INCONTACT, INC. filed this Form 10-Q on 11/09/2016
Entire Document
 

 

INCONTACT, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(in thousands)

 

 

Nine Months Ended September 30,

 

Cash flows from operating activities:

 

2016

 

 

 

2015

 

Net loss

$

(16,509

)

 

$

(18,956

)

Adjustments to reconcile net loss to net cash from operating activities:

 

 

 

 

 

 

 

Depreciation of property and equipment

 

9,961

 

 

 

7,601

 

Amortization of software development costs

 

6,289

 

 

 

4,876

 

Amortization of intangible assets

 

3,837

 

 

 

3,776

 

Amortization of deferred debt issuance costs

 

290

 

 

 

391

 

Stock-based compensation

 

6,870

 

 

 

6,510

 

Loss on disposal of property and equipment

 

1,444

 

 

 

148

 

Interest accretion

 

2,940

 

 

 

1,843

 

Amortization of investment premium

 

670

 

 

 

148

 

Deferred income taxes

 

(2,429

)

 

 

-

 

Changes in operating assets and liabilities, net of business acquisitions:

 

 

 

 

 

 

 

Accounts and other receivables, net

 

(3,657

)

 

 

(11,564

)

Other current assets

 

(1,577

)

 

 

(2,109

)

Other non-current assets

 

(1,445

)

 

 

11

 

Trade accounts payable

 

1,647

 

 

 

2,467

 

Accrued liabilities

 

(990

)

 

 

1,021

 

Accrued commissions

 

572

 

 

 

787

 

Deferred rent and lease incentive obligation

 

6,988

 

 

 

-

 

Other long-term liabilities

 

-

 

 

 

(220

)

Deferred revenue

 

3,954

 

 

 

4,246

 

Net cash provided by operating activities

 

18,855

 

 

 

976

 

Cash flows from investing activities:

 

 

 

 

 

 

 

Decrease in restricted cash

 

81

 

 

 

-

 

Sales and maturities of available for sale investments

 

67,089

 

 

 

13,716

 

Purchases of available for sale investments

 

(30,868

)

 

 

(89,879

)

Capitalized software development costs

 

(10,924

)

 

 

(7,457

)

Purchases of property and equipment

 

(16,841

)

 

 

(10,162

)

Business acquisitions, net of cash acquired

 

(18,446

)

 

 

-

 

Payments made on deposits

 

-

 

 

 

(19

)

Net cash used in investing activities

 

(9,909

)

 

 

(93,801

)

Cash flows from financing activities:

 

 

 

 

 

 

 

Proceeds from exercise of options

 

3,398

 

 

 

2,603

 

Proceeds from sale of stock under employee stock purchase plan

 

826

 

 

 

1,249

 

Principal payments under debt and capital lease obligations

 

-

 

 

 

(11,824

)

Purchase of treasury stock

 

(1,347

)

 

 

(643

)

Payments under revolving credit agreement

 

-

 

 

 

(11,000

)

Proceeds from issuance of convertible notes, net

 

-

 

 

 

111,190

 

Net cash provided by financing activities

 

2,877

 

 

 

91,575

 

Net (decrease) increase in cash and cash equivalents

 

11,823

 

 

 

(1,250

)

Cash and cash equivalents at the beginning of the period

 

29,050

 

 

 

32,414

 

Cash and cash equivalents at the end of the period

$

40,873

 

 

$

31,164

 

 

 

 

 

 

 

 

 

Supplemental schedule of non-cash investing and financing activities:

 

 

 

 

 

 

 

Payments due for property and equipment included in trade accounts payable

$

760

 

 

$

472

 

Unrealized gains (losses) on available for sale investments, net

$

80

 

 

$

(34

)

Issuance of common stock for acquisition of a business

$

344

 

 

$

-

 

See accompanying notes to Condensed Consolidated Financial Statements.

 

 

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